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Snowflake = Biggest ever software IPO

The hotly-anticipated Warren Buffet-backed IPO of Snowflake happens today and it’s expected to be the biggest software IPO ever.

Fed meeting today

GameStop led the way higher again for the most shorted stocks as the Reddit-led short squeeze continued into afterhours trading on Tuesday following a tweet from Elon Musk. Microsoft beat earnings while the dollar dropped before the Fed meeting today.

Dollar jumps after Fed minutes

The dollar was stronger after the Federal Reserve released minutes of its last meeting, while the British pound slumped following new UK guidance on the AstraZeneca vaccine. Rising tech stocks saw the S&P 500 nudge out its 18th record high of 2021.

Hong Kong gains & AUD/USD

Hong Kong gains & AUD/USD above 200 DMA - Daily Market Update

Dow Jones record high after Pfizer vaccine Results

News from Pfizer that its vaccine was 90% effective on top of the declaration of Joe Biden as US president by US news media saw stock markets take off. The Dow hit a record high while the US dollar surged back from 2-month lows.

Trump Refuses to Concede

Stocks were digesting strong gains for the week with a mixed session on Wednesday. There is a rising unease that President Trump has not conceded the election. TikTok is hoping to benefit from Trump’s departure and a forced sale.

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